30th Aug 2006 09:41
Scapa Group PLC30 August 2006 30 August 2006 Asbestos Litigation Scapa is pleased to announce today that it has just completed the re-negotiationof its Legal Cost Apportionment Agreement with its US insurance carriers. ThisAgreement covers the sharing of defence costs for personal injury claims in theUSA that allege exposure to asbestos from a business Scapa sold in 1999. Witheffect from 1 April 2006 and for the following three years, Scapa's share ofcosts under the new Agreement will reduce from 50% to 25%. At currentexpenditure levels this change represents a cash saving of approximately £0.5mper annum. For further information: Calvin O'Connor Chief Executive Tel: 0161 301 7430Mark Stirzaker Company Secretary Tel: 0161 301 7430 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
SCPA.L